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The Top 10 Poorest Countries in Africa:  With one of the lowest GDP Per Capita ($505) on the continent, Ethiopia making  the 9th poorest country. September 26, 2016

Posted by OromianEconomist in Uncategorized.
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Shoppers and vendors make their way down a flooded street in Merkato, one of Africa's largest market areas, in Addis Ababa, Ethiopia Wednesday, Aug. 29, 2012. (AP Photo/Rebecca Blackwell)

The Federal Democratic Republic of Ethiopia, commonly known as Ethiopia, is the continent’s ninth poorest country. Its 100 million citizens make it the most populous landlocked nation in the world, and the second most populous on the continent after Nigeria.

Surprisingly, the economic situation in Ethiopia only worsened as recent as 2008, when the country’s inflation rose to double digits due to it’s a myriad of factors including its loose monetary policy, high food prices, and a huge civil service wage bill. Thus, the economic problems in the country are considered structural issues in governance, which are gradually being addressed by the government. The country’s best performing sector is agriculture.

Nevertheless, the country’s GDP remains to be one of the lowest on the continent, making it the 9th poorest nation.

The ten poorests countries are:

10. Guinea-Conakry

9. Ethiopia

8. The Gambia

7. The Democratic Republic of Congo (DRC)

6. Madagascar-

5. Liberia

4. Niger

3. Central African Republic (CAR)

2. Burundi

1. Malawi


9. Ethiopia- GDP per capita: $505.00.

Shoppers and vendors make their way down a flooded street in Merkato, one of Africa's largest market areas, in Addis Ababa, Ethiopia Wednesday, Aug. 29, 2012. (AP Photo/Rebecca Blackwell)

Shoppers and vendors make their way down a flooded street in Merkato, one of Africa’s largest market areas, in Addis Ababa, Ethiopia Wednesday, Aug. 29, 2012. (AP Photo/Rebecca Blackwell)

 

Source: The Top 10 Poorest Countries in Africa

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